Peach Property Group Ag · SIX:PEAN
Peach Property — H1 2025 Earnings Presentation
58 slides from Peach Property's earnings presentation, Aug 27, 2025
Slide 1: HY 2025 Results
HY 2025 Results 27. August 2025
Slide 2: Today's Presenter
Today‘s Presenter Gerald Klinck Chief Executive Officer • CEO of the Peach Property Group since April 2024 • In addition to his role as CEO at Peach Property Group, he also takes over the responsibilities of the CFO • He has more than 25 years of experience in the real estate industry 2
Slide 3: Our Management
Our Management Stefanie Koch, COO, is welcomed since March, 15 2025 Executive Management 25+ 15+ Gerald Klinck Stefanie Koch Chief Executive Officer, Chief Operating Officer CFO responsibilities <1 25 Board of Directors 25+ 25+ 25+ 25+ 25+ Michael Zahn Urs Meister Beat Frischknecht Cyrill Schneuwly
Slide 4: Agenda
Agenda 1. Peach at a Glance 2. Operational 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 4
Slide 5: Peach Property at a glance
Peach Property at a glance Affordable German residential properties in selected B-cities Non- Total Strategic Like-for-like Total Strategic Peach Property Group Portfolio owns ~22 000 residential Jun 30, 2025 Jun 30, 2025 Jun 30, 2025 Jun 30, 2024 Jun 30, 2024 units across 9 federal Actual Rent € 53
Slide 6: Overview of Peach Portfolio
Overview of Peach Portfolio Strategic Portfolio focused on North Rhine-Westphalia Strategic Non-Strategic Metric 30.06.2024 30.06.2025 Metric 30.06.2024 30.06.2025 Portfolio Share (%) 76% 75% Portfolio Share (%) 24% 25% Units 20 630 16 479 Units 6 662 5 466 Locations 44 38 Locations 74 69 In-place r
Slide 7: Timeline first HY 2025
Timeline first HY 2025 Focus on refinancing remaining maturing debt and operational performance January 2025 March 2025 May 2025 June 2025 € 127m nominal amount € 55m AGM Extension of € 18m Bond repayment (partial) SSD Promissory Positive voting on new secured loan maturing in Current amount € 173m
Slide 8: Timeline second HY 2025
Timeline second HY 2025 Focus on completing the balance sheet transformation July 2025 27 August 2025 September 2025 15 November 2025 CHF 50m / EUR 52m Publication HY Results € 203m secured loan Maturity of outstanding Capital Increase successfully extension based on signed Bond amount ~€ 173m compl
Slide 9: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 9
Slide 10: EBITDA bridge HY 2024 to HY 2025
EBITDA bridge HY 2024 to HY 2025 Positive Impact from rent increases is undermined by one-off-effects In €m Comments 30.9 • Actual rent across all categories in line with expectation • Non-cash unrealized increase in collection risks driven by 1.9 deterioration in receivables ageing profile 3.1 -0.4
Slide 11: Development of Rental Income
Development of Rental Income First impacts are visible in vacancy reduction, with a continued clear focus on reducing unrealised collection losses Development of actual rent Rental income in € thousands Jun 30, 2023 Jun 30, 2024 Jun 30, 2025 in €m Target rental income from letting of investment 68 1
Slide 12: Rental potential residential units
Rental potential residential units Actual and Market rents are increasing in parallel Strategic Portfolio Comments Figures in € / sqm 1 • Continuous increase of in-place rents in both portfolio parts 7.38 7.23 7.26 • New letting rents are able to exceed the market rents • Potential for rent upside b
Slide 13: Turnaround in vacancy development
Turnaround in vacancy development Portfolio sale and operational improvements lead to significant lower vacancy rates Development of vacant residential units and vacancy ratio Strategic Figures in units in units Vacancy 19.50% 4.9 % 2 190 2 121 18.50% 815 2 043 17.50% 1 899 16.50% -430 -705 -385 15.
Slide 14: Development of expenses from letting
Development of expenses from letting One-off-effect from prior years lead to a l-f-l increase; operational focus to optimize in HY2 Expenses from letting of investment properties in € thousands Jun 30, 2023 Jun 30, 2024 Jun 30, 2025 Expenses from letting of investment properties -10 833 -12 089 -11
Slide 15: Development of other operating expenses
Development of other operating expenses Lower consulting costs drive decline, but structural expenses remain elevated Other operating expenses in €m Other operating expenses 6.38 in € thousands Jun 30, 2024 Jun 30, 2025 5.91 Fees and legal expenses -2 315 -1 484 4.79 IT expenses -1 008 -793 Capital
Slide 16: Development of Personnel Expenses
Development of Personnel Expenses New hirings and salary development offset the transfer of ~30 employees Personnel expenses in €m HY 2025 figures in comparison to HY 2024 in € thousands Jun 30, 2023 Jun 30, 2024 Jun 30, 2025 Salaries -8 009 -8 068 -7 875 Social insurance cost -1 276 -1 248 -1 324 E
Slide 17: Operational KPIs in HY 2025
Operational KPIs in HY 2025 Number of residential units Actual rental income l-f-l (€m) Target rental income l-f-l (€m) Adjusted EBITDA (€m) HY 2024 27 292 HY 2024 51.8 HY 2024 57.3 HY 2024 30.9 -19.6% +3.0% +2.5% -24,60% HY 2025 21 945 HY 2025 53.4 HY 2025 58.8 HY 2025 23.3 Vacancy l-f-l (residenti
Slide 18: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 18
Slide 19: Continuous investments into the portfolio
Continuous investments into the portfolio Expected spendings in 2025 on the same level as in 2024 CAPEX HY 2025 Figures in €m € 32.3/sqm € 28.8/sqm € 22.7/sqm 70 7.84 € 14.28/sqm 60 € 28.56/sqm € 10.8/sqm 50 12.61 40 €m ~20.5 CAPEX Measures 30 FY Tenant Improvements 20 • € 20.5m (o/w approx. 61.7% T
Slide 20: Sales process for non-strategics completely organized
Sales process for non-strategics completely organized 65% of Non-Strategic Portfolio is in marketing process, first notarizations in July Non-Strategic Sales Process Metric 30.06.2024 30.06.2025 • Peach Point Minden (17%): organized by Portfolio Share (%) 24% 25% professional broker Units 6 662 5 46
Slide 21: Change of Appraiser in 2025
Change of Appraiser in 2025 Challenging our values with another third-party valuer Comparison of strategic valuation Comparison of non-strategic valuation 2300 2300 2100 2100 1900 1900 1700 €/sqm €/sqm 1700 1500 1500 1300 1300 1100 1100 900 900 700 700 500 Valuation/Location Valuation/Location Strat
Slide 22: Portfolio valuation stabilized and confirmed
Portfolio valuation stabilized and confirmed First sideways movement since 2022 Valuation result HY 2025 Key valuation indicators 1 in €m Dec 31, 2023 Dec 31, 2024 Jun 30, 2025 Total fair market value € 2 408m € 1 899m € 1 916m 455 20 20 20 Rental yield based on target rent 5.8% 6.1% 6.1% Multiple b
Slide 23: Debt structure as of June 30, 2025
Debt structure as of June 30, 2025 Remaining maturities in 2025 are addressed Maturity profile 1, 3 700 Amount Ø interest Fixed €m rate rate 600 Secured Unsecured 500 19% 223 4.07% 100% 376 400 EURm 300 173 ² 81% 785 2.17% 92%* 217 200 152 152 Total 1 008 2.52% 94% 60 71 100 203 *incl. hedges - Unen
Slide 24: Balance-Sheet transformation
Balance-Sheet transformation Ongoing refinancing of more than € 1.1b (debt and equity) within one year; 100% secured funding Maturity profile 31.12.2024 in €m 700 RCF Total debt per 31.12.2024 576 600 including €185m secured debt transferred via 1.390 Corporate Bonds portfolio sale on 31.12.2024 500
Slide 25: Capital market development
Capital market development Credit ratings (Corporate Rating) Recent capital market transactions Aug 2025 Secured financing of € 410m; € 100m free liquidity to partial refinance bond July 2025 Ordinary capital increase of € 52m by issuing 10m new registered shares BB BB BB Jun 2025 Secured financing
Slide 26: Financial KPIs in HY 2025
Financial KPIs in HY 2025 Portfolio market value in €m 1 Debt volume in €m FFO I (€m) Debt/EBITDA multiple YE 2024 1 918 YE 2024 1 205 HY 2024 0.29€/share 8.9 HY 2024 22.7x 1.0% -1.3% -14.8% -24.7% +0,2x HY 2025 1 937 HY 2025 1 027 HY 2025 0.15€/share 6.7 HY 2025 21.6x Multiple on target rent WACD E
Slide 27: KPIs on Transaction Offering
KPIs on Transaction Offering Successful implementation of equity raise strengthens equity base of Peach NTA per share (€) Loan-to-value (net) Net Debt (€m) Number of shares 30.06.2025 20.6 52.2% 1 008 45 567 454 Equity Raise ~ EUR52m 1 NTA per share (€) Loan-to-value (net) Net Debt (€m) Number of sh
Slide 28: Share data
Share data Significant shareholders as of July 31, 2025 (after capital increase) 1 Information on the share Dec 31, 2024 Jun 30, 2025 July 31, 2025 30.03% (after capital increase) 35.42% Share capital in CHF 45 470 539 45 567 454 55 535 334 Number of shares issued 45 470 539 45 567 454 55 535 334 No
Slide 29: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 29
Slide 30: ESG - Peach offers affordable housing for low- to medium income citizens
ESG - Peach offers affordable housing for low- to medium income citizens Average Residential Rents in Germany (H1/2025): Selected States & Secondary Cities Avg. cold rent Rent by CBRE Peach Property City Avg. Rent (€/sqm) 1 Peach Property (€/sqm) State (€/sqm) 1 (€/sqm) 2 (€/sqm) Gelsenkirchen 6.46
Slide 31: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 31
Slide 32: Guidance & mid-term financial targets
Guidance & mid-term financial targets Guidance FY 2025 Midterm targets Target FY 2025 HY 2025 Target FY 2025 HY 2025 l-f-l rental 3% >4% LTV <45% 52.2% growth (12 months) FFO I1 € 16-18m € 6.7m Vacancy on rent 3-4% 6.8% • Clear focus on refinancing remaining maturing bond • Considering solutions for
Slide 33: FFO Bridge actual YE 2024 to guidance YE 2025
FFO Bridge actual YE 2024 to guidance YE 2025 Current Interim Status of FFO I: One Third Achieved FFO Bridge 1 Comments • Adjustment of the FFO budget planning for 2025 In €m • Reason: higher interest costs due to new refinancing 5 • Includes a 2.5% increased coupon for a 3-month 7.8 -4,1 5,0 19.2 1
Slide 34: Agenda
Agenda 1. Peach at a Glance 2. Operational Performance 3. Financial Performance 4. Update on ESG 5. Guidance 6. Appendix 34
Slide 35: Appendix
© peach PROPERTY GROUP Appendix
Slide 36: Consolidated statement of income (I/II)
Consolidated statement of income (I/II) Figures in € thousands Jun 30, 2024 Jun 30, 2025 Comments Rental income 61 479 51 579 Vacancy & Rental Income: Valuation gains from investment properties 2 420 64 108 • Decrease in rental income due to property sales by the end of 2024. Decrease in Profit on d
Slide 37: Consolidated statement of income (II/II)
Consolidated statement of income (II/II) Figures in € thousands Jun 30, 2024 Jun 30, 2025 Comments EBIT -11 920 19 503 Interest expenses/other financial income: • Decreased due to partial repayment of the Eurobond (€ 127.1m) and Financial income 12 229 2 993 promissory notes (€ 55m) using proceeds f
Slide 38: Funds from operations (FFO)
Funds from operations (FFO) Figures in € thousands Jun 30, 2024 June 30, 2025 EBIT -11 920 19 503 Comments Depreciation and amortization 900 684 EBITDA -11 020 -20 187 Decrease of FFO mostly triggered due to lower result from investment Valuation result of investment properties 40 663 2 513 properti
Slide 39: Overview per June 2025
Overview per June 2025 Jun 30, Jun 30, Jun 30, FFO I 1 in € thousands 2023 2024 2025 EBITDA -69 227 -11 020 20 187 in € thousands Adjusted EBITDA 32 132 30 859 23 32312000 1 Interest paid & received - 20 550 - 20 948 16 120 9 541 Interest paid on hybrid-capital - 803 0 010000 8 942 0.8 Interest paid
Slide 40: ICR & LTV per 2025
ICR & LTV per 2025 Calculation Interest coverage ratio Interest coverage ratio in € thousands Dec 31, 2023 Dec 31, 2024 Jun 30, 2025 1.70 1.62 1.54 Operating result -159 710 -124 125 19 503 Valuation result and depreciation 224 656 81 226 3 197 Result of disposals/divestitures 103 101 311 -101 Non-c
Slide 41: Consolidated statement of financial position (I/II)
Consolidated statement of financial position (I/II) Figures in € thousands Dec 31, 2024 Jun 30, 2025 Comments Cash & Cash equivalents 220 779 9 728 Trade receivables 11 006 8 922 Other receivables Other receivables 13 024 20 250 • The increase is mostly due to net ancillary cost receivables, as the
Slide 42: Consolidated statement of financial position (II/II)
Consolidated statement of financial position (II/II) Figures in € thousands Dec 31, 2024 Jun 30, 2025 Comments Trade payables 5 931 3 921 Other payables and advance payments 30 545 32 613 Current income tax liabilities 1 825 1 952 Share capital: Current financial liabilities 722 880 586 317 • Increa
Slide 43: Equity, share & key figures
Equity, share & key figures Equity ratio (IFRS) in € thousands Dec 31, 2023 Dec 31, 2024 Jun 30, 2025 IFRS equity 982 227 899 000 896 928 thereof hybrid capital 39 758 39 758 39 758 thereof non-controlling interest 31 921 22 174 22 309 982 227 899 000 896 928 Equity ratio IFRS 38.1% 39.7% 42.8% Numb
Slide 44: What happened in 2024
What happened in 2024 Major milestones regarding deleveraging achieved FY 2023 Results New CEO AGM 2024/New BoD EGM for Equity Portfolio Transaction Raise Financial year 2023 Effective 15 April, 2024, New five-member Board Successfully closed shows best Gerald Klinck became of Directors elected with
Slide 45: Our portfolio strategy
Our portfolio strategy Focus on Strategic Assets to create EBITDA growth German Defining the Non-Strategic bucket… Portfolio Unterstützt von Bing © GeoNames, Microsoft, TomTom Selection Criteria • Small assets (<75 residential units) • Distance to next Peach Point (>40 km) • High vacancy • Low renta
Slide 46: Successful execution of portfolio sale
Successful execution of portfolio sale Opportunistic locations of 5 200 units in line with portfolio strategy Transaction KPIs Key transaction highlights Purchase price Not disclosed Strategic Transaction portfolio consists primarily of units in opportunistic locations Portfolio and is in line wit
Slide 47: Portfolio structure as of Jun 30, 2025
Portfolio structure as of Jun 30, 2025 Investment properties € 1 916m (96%) Investment properties € 28m (1%) Total portfolio market value Development properties € 51m (3%) € 1 995m Market values determined by Wüest Partner AG as of Jun 30, 2024, excluding right-of-use assets Maps: © Vempas.com 47
Slide 48: Portfolio fully focused on residential space
Portfolio fully focused on residential space Rental income by use category as of Jun 30, 2025 Breakdown of residential units by federal state as of Jun 30, 2025 In % of total rental income before collection loss In % of total units Parking & other 7.5% Commercial 3.3% 4.7% 4.0% Previous year 4.0% Pr
Slide 49: Typical properties in Peach's portfolio
Typical properties in Peach’s portfolio Affordable German residential properties in carefully selected B-cities 49
Slide 50: Peach Points – our regional tenant shops
Peach Points – our regional tenant shops 11 Peach Points at all major Peach locations Cornerstone of direct dialogue with our tenants Dortmund Munster / Faßberg Recklinghausen Minden Marl Lower Saxony Gelsenkirchen Essen Central Oberhausen point of Witzenhausen Erkrath contact for rental and North R
Slide 51: Development project in CH «Peninsula Wädenswil»
Development project in CH «Peninsula Wädenswil» 57 condominiums in 5 buildings Total sales volume expected CHF 130-140m Sales status as of June 30, 2025 Construction status as of June 30, 2025 • Sales volume expected CHF 130-140m • Stage of completion: 70.8% (Dec 31, 2024: 34.1%). • Notarized units
Slide 52: Peach Property in the German media landscape
Peach Property in the German media landscape Proactive dialog with the media 52
Slide 53: Continuous and transparent ESG reporting
Continuous and transparent ESG reporting Affordable and sustainable living spaces • Third Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards • Will be published on 20 May, 2025; available on https://www.peachproperty.com/en/news- en/sustainability-reports/ Relea
Slide 54: Peach Property earned CDP B-rating
Peach Property earned CDP B-rating – the highest rating category in CDP SME score in 2024 54
Slide 55: Energy KPIs of Peach Portfolio
Energy KPIs of Peach Portfolio On track towards energy efficient portfolio, subtargets already achieved Distribution of energy efficiency classes Decarbonization path of Peach Portfolio average 1 139,5 kWh/m2 26,9 kgCO2e/m2a 25% 19% 20% 18% 18% 2024 15% 15% 13% 27 11% 10% 5% 5% 1% 0% A B C D E F G H
Slide 56: Tenant satisfaction
Tenant satisfaction Decentral organization still achieves high satisfaction levels Tenant inquiries “One-touch” rate 91.4% 91.3 % 90.0% 90.1% 91.2% Tenant tickets received Tenant tickets solved 174 180 171 270 98.3% 2020 2021 2022 2023 2024 At a consistently Tenant satisfaction high level 78.0% 76.0
Slide 57: Disclaimer
Disclaimer These materials contain forward-looking statements based on the currently held beliefs and assumptions of the management of Peach Property Group AG (hereinafter also referred to as «PPG» or «Peach Property»), which are expressed in good faith and, in their opinion, reasonable. Forward-loo
Slide 58: Investors, Analysts and Media
Investors, Analysts and Media Gerald Klinck, Chief Executive Officer +41 44 485 50 31 investors@peachproperty.com